Update: Intellectual Ventures has acquired Transmeta Patent Portfolio on Jan. 28, 2009
SANTA CLARA, CA. - May 9, 2006 - Transmeta Corporation (NASDAQ: TMTA), the leader in efficient computing technologies, today announced that Mark R. Kent, the Company's chief financial officer, plans to resign following the filing of the Company's Form 10-Q for the first quarter ended March 31, 2006. Transmeta has initiated a search for a new CFO and is defining its transition plan. Kent will be available to the Company on a consulting basis for a three month interim period while a CFO search is conducted.
"Mark has made significant contributions to our corporate transformation, including helping us to refine our strategy, enhance our liquidity position, build the finance team and infrastructure, and drive our efforts to become fully compliant with the requirements of the Sarbanes-Oxley Act," commented Arthur L. Swift, president and CEO. "I want to thank Mark, and I wish him success in his future endeavors."
"I have enjoyed working with Art, the Board and my colleagues at Transmeta," commented Mark R. Kent, chief financial officer. "When I came to Transmeta over a year and half ago, my goal was to help the executive team and the Board to get the Company onto a more sustainable strategic path, and I now feel that we have accomplished this goal."
About Transmeta Corporation
Transmeta Corporation develops and licenses innovative computing, microprocessor and semiconductor technologies and related intellectual property. Founded in 1995, we first became known for designing, developing and selling our highly efficient x86-compatible software-based microprocessors, which deliver a balance of low power consumption, high performance, low cost and small size suited for diverse computing platforms. We now also provide, through strategic alliances and under contract, engineering services that leverage our microprocessor design and development capabilities. In addition to our microprocessor product and services businesses, we also develop and license advanced power management technologies for controlling leakage and increasing power efficiency in semiconductor and computing devices. To learn more about Transmeta, visit www.transmeta.com.